Question

Name any one element of marketing mix

Answer 1

Explanation:

Definition: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place.

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Answer 2

In Management Studies or Marketing,Marketing Mix refers to various strategic considerations or actions that a firm or company adopt to promote or market its product or service.

Explanation:

There are 4Ps of marketing which are price,product,place and promotion.Price is one of the most important components of marketing mix.It refers to the market value of a product which is a cardinal factor which drives consumer demand.Therefore,setting the right price for product or service is an extremely valuable consideration or concern for any firm or company.Therefore,the firm or company has to adopt its pricing strategies very carefully and in consistency with consumer preferences and market competition.